Canadian Imperial Bank of Commerce (NYSE:CM) Declares C$1.07 Quarterly Dividend

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) announced a quarterly dividend on Thursday, May 28th. Stockholders of record on Monday, June 29th will be paid a dividend of 1.07 per share by the bank on Tuesday, July 28th. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, June 29th.

Canadian Imperial Bank of Commerce has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 14 years. Canadian Imperial Bank of Commerce has a payout ratio of 51.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Canadian Imperial Bank of Commerce to earn $8.10 per share next year, which means the company should continue to be able to cover its $3.13 annual dividend with an expected future payout ratio of 38.6%.

Canadian Imperial Bank of Commerce Trading Down 5.2%

Shares of NYSE CM traded down $6.00 during midday trading on Thursday, hitting $109.44. The company’s stock had a trading volume of 2,279,080 shares, compared to its average volume of 853,054. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $105.46 and its two-hundred day moving average is $97.19. Canadian Imperial Bank of Commerce has a 12-month low of $67.28 and a 12-month high of $117.05. The firm has a market cap of $100.49 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a return on equity of 15.69% and a net margin of 15.15%.The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $5.53 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts expect that Canadian Imperial Bank of Commerce will post 7.48 EPS for the current year.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.